Truist Financial Co. (NYSE:TFC) Shares Sold by Tweedy Browne Co LLC

Tweedy Browne Co LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 16.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 636,823 shares of the insurance provider’s stock after selling 124,106 shares during the quarter. Truist Financial comprises approximately 1.9% of Tweedy Browne Co LLC’s holdings, making the stock its 13th largest position. Tweedy Browne Co LLC’s holdings in Truist Financial were worth $27,625,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after purchasing an additional 534,740 shares during the period. Amundi increased its position in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. American Century Companies Inc. raised its holdings in Truist Financial by 7.9% in the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after buying an additional 722,749 shares during the period. Finally, Norges Bank acquired a new position in Truist Financial in the fourth quarter valued at about $402,828,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup decreased their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Stock Up 1.7 %

Shares of NYSE:TFC opened at $41.16 on Tuesday. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The firm’s 50 day moving average price is $44.65 and its 200 day moving average price is $44.43. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $53.74 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.05%. Truist Financial’s payout ratio is currently 62.46%.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.